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Calculate cullumber earnings per share

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Reference no: EM132544419

Cullumber Corporation had 2020 net income of $1,238,000. During 2020, Cullumber has not declared or paid any dividend on 82,000 cumulative preferred shares. Cullumber also had 160,000 common shares outstanding during the year. The preferred shares pay an annual dividend of $7 per share.

Question 1: Calculate Cullumber's 2020 earnings per share.

Reference no: EM132544419

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